The amount raised will be used by Chrysalis to build on its research and development, and to strengthen its multichannel approach leading the company to further target on its goal of improving education in K-12 schools. There are currently 250 million children enrolled in these schools of which 100 million are in the private school segment.
Chitra Ravi, Founder and CEO, Chrysalis, said, “Our mission is to stand up for the child, by reforming the Indian education system in a way that every child realizes his/her human potential. In our estimation, we have more than 15,00,000 schools failing in this regard. We have established a roadmap to bring in a fundamental change in the system by engaging 5 principal mediums - policy makers, government schools, private schools, parents and public, by open-sourcing our intellectual property selectively. We are committed to this mission and were seeking investors who were aligned to it. We found the right fit in Gray Matters Capital, which has a vision to transform human lives using education as a medium.”
Chrysalis’ flagship product is ThinkRoom, a student-centric academic programme based on a ‘Human Potential’ framework developed through 16 years of pedagogic research.
“We see Chrysalis as one of the most innovative, mission driven and student centric educational enterprises in India, which has the potential of bringing about a tangible change in the way education is imparted in our schools,” said Ragini Bajaj Chaudhary, India CEO, Gray Matters Capital, outlining the investment rationale.
Boutique investment bank Unitus Capital acted as a financial advisor to Chrysalis, while impact investment management firm CBA Capital supported Gray Matters Capital in the transaction.